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Benefits of Blockchains on Electronic Discovery
All industry can confess of the many reasons why technology is a very important resource. The education system is the other beneficiary of the technology because nowadays the teachings are by technological ways and also access information is another great advantage. An example of an industry that has benefited tremendously by the emergence of technology are the businesses because, with digital technologies such as the Internet, businesses can market the product and services to a broader market through the online platforms. However, other companies nowadays can transact businesses using the online money, it is not as safe as it may sound. For long time now, there has been a lot of research done by many people, trying to figure out ways of reducing technological frauds and amazing discoveries being done.
Many discoveries have been made and one of the techniques being used today is the blockchains. The people who work with virtual money can perfectly understand the term blockchains because it is associated with bitcoin or cryptocurrency. There are important characteristics of blockchain that you should know, for example, it is a decentralized, digitalized and public ledger of all cryptocurrency transactions. One outstanding characteristic of the blockchain is that the information contained in there cannot be deleted from the public ledger. One of the industries that have been impacted a lot by the blockchain is the electronic discovery. Blockchain has impacted the electronic discovery a lot in the following way.
One of the challenging things about being a lawyer is the fact that you have to search for a lot of evidence for you to win a case in the court of law because you have to prove it.Sometimes, in a case of business you might not have enough evidence to prove the frauds took place especially using electronic money and that is only limiting factor to a career of a lawyer. With blockchain, once the information is entered into the public ledger, the information is permanent and cannot be deleted by any technology and that is important for a lawyer to get a direct information without being biased.
It is also beneficial to the clients that hire lawyers to present them for different cases especially when it comes to the price of hiring lawyers. With blockchains, a lawyer can get the evidence is low without much struggle because when a lawyer struggles to get information, they will charge you for the time and also the effort increasing the overall price of getting a lawyer.
If you want to install the blockchain software, it is not hard because there are companies that can help you in installing the software and also train you on not use it effectively.For example, cicayda are ediscovery experts including professional such as aaron vick that helps law firms to focus on legal workflows, software and analytics.
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